Our-in depth analysis of the global Protein Expression Technology market includes the following segments:
Global Protein Expression Technology Market is further classified on the basis of region as follows:
Many Biotechnological Research Centers and pharmaceutical companies are working to discover better applications by drugs, injections, etc. to achieve the market demand. The rise in chronic diseases has given rise to the market of protein expression technology and will grow throughout the forecast period at a CAGR of 10.1%. The Global Protein Expression Technology market is expected to reach a value of USD 2.9billion at the end of the forecast period.
The data from World Bank, shows consequent rise in health investment from world’s GDP share since 2013 to 2015. There have been 9.9% share of GDP in 2015, followed by 9.5% in 2014 and 9.4% in 2013. This rising share in the health segment owing to rise the health awareness and thus in turn driving the protein expression market during the forecast period.
The change in lifestyle and environmental factors have given rise to many diseases to occur at a very early stage of life, thus, increasing the demand for the chronic treatments by drugs and other medical options for protein expression technology. The Global Protein Expression Technology market is observing rapid growth owing to increasing R&D in the academic & research institutes segment which holds the largest revenue share because of rising funding for biological research by private and government organizations.
On the basis of regional platform, global Protein Expression Technology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As the trend for advance and innovative treatment is rendering the market, there is an increase in acceptance of therapeutic proteins in the lifestyle of the people all over the world.
Protein Expression Technology market in North America, Western Europe and Asia Pacific excluding Japan with the use of mammalian expression system segment lead the market in terms of expression systems during the forecast period. North America in the protein expression system category will dominate the market with a higher market value as compared to APEJ and Western Europe. Asian Pacific countries will observe a steady growth rate because of lesser complex government rules and regulations and easy availability of skilled professionals.
The rising demand for protein expression technology for its various usefulness in pharmaceutical, biotechnological and other relative industries are expected to drive the market rapidly over the forecast period. On the basis of advancement in R&D and technology, it reflects that Protein Expression Technology will be at the foremost choice of adoption, and will reflect the highest global share.
High chronic disease rate demands for therapeutic proteins such as insulin, hormones, monoclonal antibodies and vaccines. Thus, it is enlarging the protein expression market that propels growth of the market during the forecast period.
However, development of protein expression technology incurs huge costs and in-house development which makes this advanced technology out of reach of wide range of population all over the world. Moreover, the technologies have lesser protein production as compared to the costs involved in its development which will anticipate hindering the market growth further over the forecast period.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani